Chemours (NYSE:CC) Stock Price Passes Below Fifty Day Moving Average – Should You Sell?

The Chemours Company (NYSE:CC)’s stock price passed below its 50 day moving average during trading on Monday . The stock has a 50 day moving average of $23.07 and traded as low as $22.00. Chemours shares last traded at $22.40, with a volume of 2,230,951 shares changing hands.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Alembic Global Advisors reissued an “overweight” rating and set a $30.00 target price on shares of Chemours in a research note on Wednesday, May 13th. BMO Capital Markets cut their target price on shares of Chemours from $20.00 to $19.00 and set an “outperform” rating on the stock in a research note on Monday, February 23rd. Zacks Research raised shares of Chemours from a “strong sell” rating to a “hold” rating in a research note on Friday, April 24th. Mizuho set a $30.00 target price on shares of Chemours in a research note on Wednesday, May 6th. Finally, Truist Financial upped their price target on shares of Chemours from $27.00 to $30.00 and gave the stock a “buy” rating in a research note on Tuesday, April 28th. Six analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $24.60.

Chemours Price Performance

The company has a quick ratio of 0.87, a current ratio of 1.82 and a debt-to-equity ratio of 18.98. The firm has a market capitalization of $3.37 billion, a price-to-earnings ratio of -8.48 and a beta of 1.40. The stock’s 50 day moving average price is $23.07 and its two-hundred day moving average price is $18.49.

Chemours (NYSE:CC) last posted its quarterly earnings results on Tuesday, May 5th. The specialty chemicals company reported $0.05 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.10. Chemours had a negative net margin of 6.82% and a positive return on equity of 52.49%. The business had revenue of $1.38 billion for the quarter, compared to the consensus estimate of $1.40 billion. During the same period in the prior year, the business posted $0.13 earnings per share. Chemours’s revenue for the quarter was up 1.0% compared to the same quarter last year. Analysts anticipate that The Chemours Company will post 1.07 EPS for the current fiscal year.

Chemours Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 16th. Stockholders of record on Sunday, May 17th will be paid a $0.0875 dividend. The ex-dividend date of this dividend is Friday, May 15th. This represents a $0.35 dividend on an annualized basis and a dividend yield of 1.6%. Chemours’s dividend payout ratio is -13.26%.

Hedge Funds Weigh In On Chemours

Hedge funds have recently modified their holdings of the stock. Bank of America Corp DE boosted its holdings in Chemours by 79.1% in the first quarter. Bank of America Corp DE now owns 1,317,003 shares of the specialty chemicals company’s stock worth $29,014,000 after purchasing an additional 581,621 shares in the last quarter. Edgestream Partners L.P. boosted its holdings in Chemours by 1,126.4% in the first quarter. Edgestream Partners L.P. now owns 294,881 shares of the specialty chemicals company’s stock worth $6,496,000 after purchasing an additional 270,836 shares in the last quarter. Amundi bought a new stake in Chemours in the first quarter worth $272,000. California State Teachers Retirement System boosted its holdings in Chemours by 18.8% in the first quarter. California State Teachers Retirement System now owns 173,103 shares of the specialty chemicals company’s stock worth $3,813,000 after purchasing an additional 27,377 shares in the last quarter. Finally, Quantinno Capital Management LP boosted its holdings in Chemours by 16.4% in the first quarter. Quantinno Capital Management LP now owns 364,745 shares of the specialty chemicals company’s stock worth $8,035,000 after purchasing an additional 51,275 shares in the last quarter. 76.26% of the stock is owned by institutional investors and hedge funds.

About Chemours

Chemours Company, established in 2015 as a spin-off from E. I. du Pont de Nemours and Company, is a global chemistry organization headquartered in Wilmington, Delaware. Since its formation, Chemours has focused on delivering performance chemicals that help customers lower their carbon footprint, increase energy efficiency and conserve water. The company operates with a commitment to safety, environmental stewardship and innovation.

Chemours’ principal business activities are organized into three core segments.